Calculate: $\frac53\times\frac{6}{10}\times\frac{15}{9}\times\frac{12}{20}\times\frac{25}{15}\times\frac{18}{30}\times\frac{35}{21}\times\frac{24}{40}$
Explanation: Each of the fractions $\frac{5}{3},$ $\frac{15}{9},$ $\frac{25}{15},$ $\frac{35}{21}$ reduce to $\frac{5}{3},$ and each of the fractions $\frac{6}{10},$ $\frac{12}{20},$ $\frac{18}{30},$ $\frac{24}{40}$ reduce to $\frac{3}{5}.$  Therefore, the product of all eight fractions is $\boxed{1}.$